TBWA buys 100% control of TBWA India
By Staff, Campaign India, Friday, 19 September 2008 11:00AM
MUMBAI - TBWA Worldwide has taken 100% control of TBWA India by acquiring the remaining 49% of shares, currently held by Indian shareholders.
Following this acquisition, TBWA Worldwide, together with Omnicom will own 100% of TBWA India.
George John is the largest of the three local shareholders, and will serve TBWA India in an advisory capacity after September. Kurien Mathews is the second shareholder, and will remain with TBWA India till the end of September. N Krishnan, the third shareholder, is to assume the role of COO, TBWA India Group.
Commenting on the acquisition, Keith Smith, president, International TBWA Worldwide said, "The consolidation of our stake constitutes the closing of a very significant chapter in the history of TBWA in India. We have had a very successful new business run in the last two years, which has propelled us up the agency rankings list. Our ability to deliver truly Disruptive solutions together with strong creative work has really seen TBWA arrive on the advertising map in India."
He further added: "I would like to thank George and Kurien for everything they have done for the agency. They have been not just business partners but close friends as well. My congratulations to Krishnan on his newly expanded role with the network. We are looking for great things from his partnership with Shiv Sethuraman."
For more on this story visit the Campaign India site.
This article was first published on Campaign India
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